What is Phala Network?
Phala Network yet another Gem built on Polkadot blockchain, as it serves entire Polkadot network being on its one of the Parachains. Phala mainstream in Confidential smart contract platform deployed on substrate. It aims to offer privacy preserving protocol for confidential could computing and data security services for various enterprises and users.
Phala have two main product that include pLibra and Web3 Analytics, where pLibra confidential computation component for Libra. under web3 analytics network will serve next generation data analysis for user data and output. Phala utilize TEE i.e., Trusted Environment Execution which will help user to keep data private and confidential. TEE simply run data in isolated and private and outputs display with authorization. TEE powered system will be protected by system level attack and solve problem like lack of time source and availability issue.
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As per latest report, Phala continue to working on powerful computing power which is comparable with existing cloud services. network also combines peer to peer network of number of trusted hardware, which is verified by phala runtime i.e., open-source platform. however, all computing process will be following decentralized approach and there I not centralized executor and data controller.
Phala Network Price Prediction
|Month & Year||PHA Price Prediction|
Phala Network Overview
|Project name||Phala Network|
|All-time high||$1.19 USD|
|Exchange Platform||Binance, OKEx, gate.io, Bilaxy, MXC, Huobi Global, Hotbit|
|Partner||Polkadot, Bluezelle, Reef Finance, Bondly, IOSG Venture, Bifrost, Crust, Mask, Acala, Kusama, Parity, Candaq|
PHA Price Analysis
Following listing of PHA on CMC it makes progressive gained in prices and market cap volume. PHA climbed by 9x since November 2020 i.e., in 3 months, as it already crosses $1 USD mark after announcement of Binance listing. PHA is mining friendly as blockchain will verify execution on own computer. In the utility PHALA Token will be used in buying computing resources, t-chain & off-chain storage. Data execution or processing will require PHA as transaction fees, as token can be staked to earn rewards. In DAO token holder can participate in community governance
Will PHA Token hit $10 USD?
PHA has great uses in future and as its demand increases following listing on top trading platform PHA could reach this milestone before 2022.
Is Phala Network a Good Investment?
Polka project continue roar in year 2021 and it will remain favorite in future too.
Phala network not just smart contract platform but it has some better feature to serve for individual and user in terms of data preservation. Phala will be changing data security with decentralized technology integration, as it aims to eliminate centralized executor. Phala serving Polkadot parachain which is currently one of the most demanded platforms, where most of project making deployment on it. Phala seeing huge market cap gained in recent weeks, as it makes entry into top 300 project list and in future it could secure position in top 200 list.